Neon Labs has developed an Ethereum Virtual Machine (EVM) compatible bridge that allows smart contracts for Ethereum to run on the Solana blockchain.
The solution was launched in test mode and, in fact, allows you to run any smart contracts for Ethereum directly on the Solana blockchain. That is, developers and users of decentralized applications can take advantage of the high bandwidth and low fees of the Solana blockchain.
We are delighted to announce #neon, an Ethereum Virtual Machine (evm) scalability solution built on @solana. Neon lets developers take advantage of the #Ethereum and #Solana ecosystems, as easily as deploying to existing eth Layer 2 scaling solutions. /1 pic.twitter.com/uJZj61wZb3
— Neon Labs (@neonlabsorg) July 20, 2021
Even during the test phase, Neon EVM will receive support for popular decentralized applications such as Uniswap, SushiSwap, MakerDAO and 0x. The full launch of the solution is planned to be completed by the end of the third quarter of this year. Director of Neon Labs Marina Gureeva said:
“Ethereum is a thriving ecosystem that offers a lot to developers and users of decentralized applications in terms of tools and infrastructure. Solana attracts many with its technical characteristics and is growing rapidly. Thanks to Neon EVM, developers of decentralized applications can easily run them on the Solana blockchain and improve the user experience without abandoning the usual development tools. ”
Solana is really growing at an extremely fast pace. In early June, developers raised up to $ 450 million for the development of the network, and earlier this month it became known that the Power Ledger company is transferring its Energy Blockchain platform to the Solana blockchain to increase transaction speed and scalability.